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Purchases and cash payments journals Transactions related to purchases and cash payments completed by Brite Way Cleaning Services Inc. during the month of May 2016 are as follows: May 1. Issued Check No. 57 to Liquid Klean Supplies Inc. in payment of account, $395. 3. Purchased cleaning supplies on account from Sani-Fresh Products Inc., $220. 8. Issued Check No. 58 to purchase equipment from Carson Equipment Sales, $3,150. May 12. Purchased cleaning supplies on account from Porter Products Inc., $400. 15. Issued Check No. 59 to Bowman Electrical Service in payment of account, $165. 18. Purchased supplies on account from Liquid Klean Supplies Inc., $275. 20. Purchased electrical repair services from Bowman Electrical Service on account, $150. 26. Issued Check No. 60 to Sani-Fresh Products Inc. in payment of May 3 invoice. 31. Issued Check No. 61 in payment of salaries, $6,500. Prepare a purchases journal and a cash payments journal to record these transactions. The forms of the journals are similar to those illustrated in the text. Place a check mark (✓) in the Post. Ref. column to indicate when the accounts payable subsidiary ledger should be posted. Brite Way Cleaning Services Inc. uses the following accounts: Cash 11 Cleaning Supplies 14 Equipment 18 Accounts Payable 21 Salary Expense 51 Electrical Service Expense 53

BuyFind

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615
BuyFind

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615

Solutions

Chapter
Section
Chapter 5, Problem 5.17EX
Textbook Problem

Purchases and cash payments journals

Transactions related to purchases and cash payments completed by Brite Way Cleaning Services Inc. during the month of May 2016 are as follows:

May 1. Issued Check No. 57 to Liquid Klean Supplies Inc. in payment of account, $395.

3. Purchased cleaning supplies on account from Sani-Fresh Products Inc., $220.

8. Issued Check No. 58 to purchase equipment from Carson Equipment Sales, $3,150.

May 12. Purchased cleaning supplies on account from Porter Products Inc., $400.

15. Issued Check No. 59 to Bowman Electrical Service in payment of account, $165.

18. Purchased supplies on account from Liquid Klean Supplies Inc., $275.

20. Purchased electrical repair services from Bowman Electrical Service on account, $150.

26. Issued Check No. 60 to Sani-Fresh Products Inc. in payment of May 3 invoice.

31. Issued Check No. 61 in payment of salaries, $6,500.

Prepare a purchases journal and a cash payments journal to record these transactions. The forms of the journals are similar to those illustrated in the text. Place a check mark (✓) in the Post. Ref. column to indicate when the accounts payable subsidiary ledger should be posted. Brite Way Cleaning Services Inc. uses the following accounts:

Cash 11
Cleaning Supplies 14
Equipment 18
Accounts Payable 21
Salary Expense 51
Electrical Service Expense 53

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Chapter 5 Solutions

Accounting (Text Only)
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Ch. 5 - Revenue journal The following revenue transactions...Ch. 5 - Revenue journal The following revenue transactions...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Accounts receivable subsidiary ledger The debits...Ch. 5 - Purchases journal The following purchase...Ch. 5 - Purchases journal The following purchase...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Accounts payable subsidiary ledger The debits and...Ch. 5 - Segment analysis McHale Company does business in...Ch. 5 - Segment analysis Back Country Life, Inc., does...Ch. 5 - Identify postings from revenue journal Using the...Ch. 5 - Accounts receivable ledger Based on the data...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify journals Assuming the use of a two-column...Ch. 5 - Identify transactions in accounts receivable...Ch. 5 - Prepare journal entries in a revenue journal...Ch. 5 - Posting a revenue journal The revenue journal for...Ch. 5 - Accounts receivable subsidiary ledger The revenue...Ch. 5 - Revenue and cash receipts journals Transactions...Ch. 5 - Revenue and cash receipts journals Lasting Summer...Ch. 5 - Identify postings from purchases journal Using the...Ch. 5 - Identify postings from cash payments journal Using...Ch. 5 - Identify transactions in accounts payable...Ch. 5 - Prepare journal entries in a purchases journal...Ch. 5 - Posting a purchases journal The purchases journal...Ch. 5 - Accounts payable subsidiary ledger The cash...Ch. 5 - Purchases and cash payments journals Transactions...Ch. 5 - Purchases and cash payments journals Happy Tails...Ch. 5 - Error in accounts payable subsidiary ledger After...Ch. 5 - Identify postings from special journals Pinnacle...Ch. 5 - Cash receipts journal The following cash receipts...Ch. 5 - Computerized accounting systems Most computerized...Ch. 5 - Computerized accounting systems and e-commerce...Ch. 5 - E-commerce For each of the following companies,...Ch. 5 - Segment revenue horizontal analysis Starbucks...Ch. 5 - Segment revenue vertical analysis News Corporation...Ch. 5 - Segment revenue horizontal and vertical analyses...Ch. 5 - Revenue journal; accounts receivable subsidiary...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable subsidiary account,...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 5 - All journals and general ledger; trial balance The...Ch. 5 - Problems: Series B Revenue journal; accounts...Ch. 5 - Revenue and cash receipts journals; accounts...Ch. 5 - Purchases, accounts payable account, and accounts...Ch. 5 - Purchases and cash payments journals; accounts...Ch. 5 - All journals and general ledger; trial balance The...Ch. 5 - Ethics in Action Netbooks Inc. provides accounting...Ch. 5 - Manual vs. computerized accounting systems The...Ch. 5 - Accounts receivable and accounts payable A...Ch. 5 - Design of accounting systems For the past few...Ch. 5 - Communication Internet-based accounting software...

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